Welcome to Calcutta Angels Network

In a Nutshell

Calcutta Angels Network

Calcutta Angels Network (CAN) prides itself on being eastern India’s premier and first platform connecting veteran angel investors and mentors to entrepreneurs building high growth ventures.

We are deeply embedded in the start-up and investment ecosystem in India.

If you are a disruptive and ambitious innovator, we will help you get access to all the capital, expertise and connections you need to grow your company to its full potential.

As investors, our members love to pick out the best products; and mentor them throughout the journey.

We collaborate with the top angel networks, accelerators, incubators and institutes across the country to ideate, discuss, co-invest and share knowledge.

MISSION

We connect businesses with their fuel for growth, and investors with businesses that can provide impact and returns. Our extensive network brings together entrepreneurs who are starting out with great products and veteran investors who bring to the table not only capital but invaluable experience and vast networks across industries.

VISION

We love to nurture fledgling start-ups as they soar high; and help them transform their ideas into products; and products into ventures.

VALUES

We are committed to creating a thriving culture of entrepreneurship in eastern India, and building a sustainable ecosystem for entrepreneurs. We build relationships with our investees, investors and partners based on mutual respect, integrity and honesty.

For Angels

We like to syndicate a strong investor base that can help a start-up with capital, and guide them on strategy, execution and access to networks and markets. CAN enables member investors to cherry pick the best products and teams, assess their potential for growth and impact, and work with them on their path to success. Our investors look for focused and tenacious teams building products that solve real problems across the spectrum, not restricting themselves to a specific set of sectors.

For Entrepreneurs

We aim to be a partner with you on your journey, and are always looking for opportunities to invest in companies that have the potential to make an impact. We usually invest in the range of 100,000-300,000$ in early stage businesses; however we are flexible to meet the needs of the start-up and make larger investments too. We are fairly involved in the companies we invest in – start-ups over the years have seen their traction, team, product and culture evolve significantly with inputs from the collective experience of 70+ investors who are at the top of their own fields themselves.

Team

Mainak Bhattacharya

Mainak Bhattacharya

COO

Mainak spent most of his formative years as a professional dabbling both into entrepreneurship and startup investments. Post his graduation in business management, he made several successful and unsuccessful attempts at entrepreneurship.

Subsequently, he joined CIIE – IIM Ahmedabad, and grew alongside the best startup incubator in the country with a portfolio of 100+ startup investments, 80% of which later raised follow-on funding with an average investment leverage ratio of 1:14.

At CIIE, Mainak helped design and run some of India’s largest entrepreneurship ecosystem development programmes, including the ‘Power of Ideas’ initiative, and various sector-focussed accelerator programmes with Fortune 500 companies and the Central Government. During these years he worked with practically the entire startup ecosystem in India, developing a keen ear for unique value propositions and a sense of customer empathy.

At Calcutta Angels, Mainak is passionate about building a fraternity of investors who fall in love with their investees for the right reasons and bringing together startups rooted in realism while constantly exploring smart ways to scale.

He is reachable at coo@calcutta-angels.com

Members

We believe in a diverse range of personel to bring creative skills, thoughts, and ideas to the table.

Vikram Goyal

Vinod Bamalwa

Vivek Goenka

Yash Poddar

Raghav Kanoria

Co-Founder

Raghav is the Director of Moni Viniyogh Pvt. Ltd – a boutique investment banking firm which runs transactions for cross border Acquisitions, Private Equity Fund raising for corporates. He has worked in SREI Venture Capital, Brand Capital, interned with Mittal Steel, London. He also led the efforts to raise a JV Real-Estate fund at Ambuja Realty. He is one of the co founders of Calcutta Angels Network (Eastern India’s only Angel Network).

Raghav holds a B.COM, M.COM as well as an MBA from Leeds University, UK.

Pradyumna Dalmia

Co-Founder

Pradyumna is Partner at Triton Investment Advisors, a PE firm, and also manages his own family office. He was earlier Director, SSD Securities Pvt. Ltd, a leading stock-broking and financial services firm.

Pradyumna completed his MBA from London Business School (LBS) in 2012 and holds a BSc in Economics from the University of London. He is also past-President of the India Business Forum (IBF) and Family Business Club at LBS.

Kumar V Patodia

Co-Founder

Kumar is currently the Director of Unimark Group (formerly Heritage Realty Group). Prior to joining Unimark, Mr. Patodia worked at JPMorgan Securities in New York, a US based investment bank. He has also previously worked at Morgan Stanley and Citigroup. He graduated summa cum laude from the University of Pennsylvania, where he received a Bachelor of Science in Economics (Finance and Operations & Information Management) from the Wharton School and a Bachelor of Arts in Psychology from the College of Arts and Sciences. Besides work, Mr. Patodia enjoys sports, music, photography and travel.

Rahul Kayan

Co-Founder

Joined Stewart &Mackertich Ltd. as a Director in 2009. He currently manages the Institutional Equities, Portfolio Management Services and Research and Advisory Services division.

Rahul has worked in DSP Blackrock in Mumbai and Merrill Lynch in New York. Rahul holds a B.Sc in Finance and Marketing from the Stern School of Business, NYU.

Apurva Salarpuria

Co-Founder

Apurva is the Executive Director at Salarpuria Group. He has previously worked at KPMG Assurance division in Bangalore and holds a Chartered Accountant degree.

Abhishek Agarwal

Is a postgraduate from United Kingdom and serves on the board of Primal Projects Private Limited and DRA Group.

Mr. Agarwal has business interest in several projects in real estate in the city of Bangalore / Kolkata & Pune.

Abhishek Bagaria

Abhishek is the Director of Bagaria Group. He had interned in a company owned by Warner Village Theme Parks in Australia. He received a Bachelor of Business Administration (Marketing and Management) degree from the Bond University. He was awarded “Fisher Shaw Prize for Organizational Behavior Group” for excellence.

Abhinav Parekh

being updated…

Adarsh Kanoria

being updated…

Aman Chitlangia

being updated…

Amit Nathany

being updated…

Anirudha Jalan

Director, Tyroon Tea Company Limited

Anirudha Jalan joined Calcutta Angels in December 2013. Anirudha holds a Bsc in Finance from the University of Illinois at Urbana Champaign. He has previously worked in the financial sector at Morgan Stanley in New York (in 2007) and Ernst & Young in Kolkata in Transactions Advisory Services (during 2008 & 2009).

His company is involved in the manufacture of Assam teas – where he supervises the day-to-day working of the company. Anirudha is also the promoter of Hasimara Industries Limited, which has interests in tea plantations in Dooars, North Bengal.

Anirudh Kajaria

being updated…

Ankit Ruia

being updated…

Anshuman Dabriwala

being updated…

Anurag Singhi

being updated…

Arvind Kajaria

being updated…

Ashish Agarwal

Managing Director, ABC India Ltd

Ashish Agarwal is the Managing Director of ABC India, a BSE listed Logistics and EPC provider focussed on Infrastructure Projects. At ABC he has also started Greenhive to provide Information Management Services. He joined the company in 2004 after working for Barclays Capital in New York. He graduated from Columbia University with a B.A. in Economics in 2001.

Ashish is also a Director of TCI Industries, a real estate development project in Mumbai. As a wine aficionado, he co-founded Gusto Imports, a wine import company. Recently he helped start La Bodega, an authentic Mexican restaurant, in Delhi and is now involved in another, soon to be launched, consumer start-up.

He is the Co-Chair, India, of the Alumni Representative Committee of Columbia University and a Past President of Entrepreneur’s Organization, Kolkata chapter.

Ashish is interested primarily in start-ups in the sectors of services, logistics and consumer products.

Ashish Jhunjhunwala

being updated…

Ashish Jhunjhunwala (RKJ)

being updated…

Deepak Saraf

being updated…

Devesh Bansal

Director, Skipper Limited

Skipper has a diverse product portfolio in the Power T&D as well as Water Infrastructure space. He currently manages the growth of certain verticals in Power T&D space as well as pan-India expansion of the PVC piping business.

Devesh completed his Bachelor of Commerce from St. Xaviers College and went on to do his M.Sc in International Business & Management from De Montfort University, Leicester.

Dhiraj Bhagchandka

being updated…

Harshvardhan Modi

Director, Eden Group

Harsh Modi is an Executive Director at Eden Group, an established Real Estate Developer based in Kolkata. He has a deep understanding of real estate project conceptualization, execution and marketing. An active angel investor and part of the Board at Calcutta Angels – an angel investing network – he takes a keen interest in startups and has invested in a few startups through the angel network. Previously he has worked for Microsoft Corporation in Seattle, WA, USA in the online advertising space – Microsoft adCenter. Being an alumnus of the University of Michigan, Ann Arbor, he is the Vice President of University of Michigan India Alumni, and is a part of volunteer organizations – Ekal Vidyalaya Foundation, Friends of Tribals Society, Round Table, Parivaar Society. At Friends of Tribals Society he is an advisor and technology enabler and is working with them on a big data aggregation software project.

Kunal Mehta

being updated…

Mudit Kumar

(MBA) from Carnegie Mellon University, runs a fourth-generation family-owned tea business. He has been involved in other manufacturing businesses like floor-coverings, apart from trading and exports, during the 25 years of his work-life. During these years he has also managed a family portfolio of different asset classes, and gained experience in making investment decisions, before he became a member of the Calcutta Angels Network.

Nikunj Bathwal

being updated…

Pranay Dhelia

being updated…

Prashant Jalan

Founder & MD Bengal Nestor’s Industries Ltd

Mr. Prashant Jalan is a 4th generation industrialist based out of Kolkata. He hails from a family which has contributed over four generations and made a name in the industrial landscape of Eastern India. Shri Prashant Jalan incorporated Bengal Nestor’s Industries Limited (BNIL) as a joint sector company with West Bengal Industrial Development Corporation Limited (WBIDC). The Company has been into a contract manufacturing arrangement with Nestle till the year 2009 for the East, for Nestle’s Chilled Dairy operations. Currently the company is engaged in collection, processing, manufacturing & marketing of various milk & milk products in the brand name of Mother Dairy Calcutta.
Prashant Jalan, born in New Delhi, India, had his schooling from La Martiniere for Boys, Kolkata and completed his bachelors’ in Commerce from Delhi University. He’s currently pursuing a M.A. in Economics.

Raghav Kheria

being updated…

Rahul Agarwal

Founder, Ideal Insurance Brokers Pvt. Ltd.

Rahul is a serial Entrepreneur, whose first Start-up was Ideal Insurance Brokers, which is today aleading insurance consulting house of India with an employee strength of more than 150. Additionally, he runs another broking company – Ideal Property Brokers Pvt.Ltd. He also has a mobilephone brand by the name of KIVI Mobile and is the Regional Director for BNIInternational in Kolkata.
Rahul has around 13 years of experience in the Financial Services Industry and more than 5 years of experiencein the Real Estate and Telecom industry.

Rahul completed hisB.Com from St Xavier’s College, Kolkata. He then went on to do his CFA from ICFAI Hyderabad and MBA from SPJIMR, Mumbai.

Rahul Saboo

being updated…

Ravi Todi

being updated…

Ritum Jain

Prior to joining the family business, he had a short stint of 3 years, working with ICICI Bank as Manager Credit. Joined Family Business in March, 2003 – Manufacturers of Safed brand detergent powder and allied products
President of Bengal Soaps & Detergents Manufacturers Welfare Association,
Committee Member of Family Business Sub-Committee of CII-Eastern Region.
President, I. M. I. Alumni Association
Qualification:
B.Com from St. Xaviers, Kolkata (1st in College), C.A., C.S., ICWA
MBA in Finance from International Management Institute (I.M.I.)

Sandeep Fogla

being updated…

Saurabh Dudhoria

Managing Director, 90 Degrees

Saurabh’s Group is involved in Real Estate development in Kolkata and its adjoining areas. Passionate about technology, new ideas and India’s entrepreneurial culture, he is sector-agnostic. He believes Calcutta Angels to be the ideal partner for young and energetic start-ups that seek growth, mentoring and funding.

He is an alumnus of The Doon School, Dehradun and holds a Bachelor of Science (Physics) degree from Michigan State University, USA.

Saurav Dugar

being updated…

Sidharth Pansari

Sidharth Pansari is the Managing Director of Primarc Story Venture (P) Ltd. currently operating under brand name STORY. He also heads Primarc’s realty business Primarc Projects and Primarc’s apparel wing PGI Retail as a Director.

Mr. Pansari has been in the realty segment since 1998. He has contributed in expansion of the Raymond textiles business of the group. He has completed his CFA from ICFAI Hyderabad. His interests lie in reading and playing Tennis.

Shitanshu Jhunjhunwala

As Director at Turtle Limited, he heads Turtle, one of India’s leading fashion menswear brands and London Bridge, a brand for the new generation.

A supply chain engineer, he has been one of the key players in developing an orthodox manufacturing company in to a lifestyle retail brand in India. His wealth of experience, global exposure, business acumen and an in-depth understanding of the market scenario has significantly contributed to the growth and established it as a leading player in this segment.

He is an active member of EO, Kolkata.

Tushar Jhunjhunwala

being updated…

Vikash Kandoi

Director, Royal Touch Fablon (P) Ltd.

Vikash is also a Director at Jayshree Tea & Industries Ltd. His business activities include manufacturing plastic based packaging/ tea plantations/ sugar and fertiliser production. He is involved in Board level strategic management for his companies.

Vikash holds an MBA from ISB and a non-practicing Chartered Accountant. He is also a Board member at BIMTECH, Delhi and Bhubaneshwar.

Vikram Goyal

being updated…

Vinod Bamalwa

being updated…

Vivek Goenka

Executive Director, Warren Tea Limited

Vivek Goenka is President of Warren Tea Limited. The Company owns 7 Tea Estates and employs over 17,000 people in Assam with its headquarters based out in Kolkata. The Company is also listed in various stock exchanges across the country.
Vivek is an entrepreneur in his own right having started a chain of hotels under the brand name “Vesta” operating in 3 up-market hotels in Jaipur and Bikaner. His business interests are also in the IT space through Softweb Technologies Pvt. Ltd. which makes ERP systems for various industries, including jute, tea and hotels.
Vivek is active in various social and business institutions across Kolkata including the National Committee of the Indian Tea Association and the Governing Council of Tea Research Association of India. He is also an active member of the Entrepreneurs’ Organization (EO) and was President of the EO Kolkata chapter in 2012/13.
Vivek graduated in Management Studies from the University of Nottingham and subsequently went on to complete his Masters degree in Finance and Investment from the same university.

Yash Poddar

Managing Director, RKBK Ltd

Born & brought up at Kolkata, Yash completed his schooling & graduation at St. Xavier’s School & College & immediately thereafter joined the family business which involves distribution & retailing of petroleum products, consumer goods & personal products through 100+ branches in Uttar Pradesh, Bihar, Jharkhand & West Bengal.

Having co-founded the Kolkata Chapter of Entrepreneurs’ Organization (EO) in 1999, he served as Chapter President and also on the Regional Council in various capacities since. Yash have also served as Chapter Chair of Calcutta Chapter of Young Presidents’ Organization (YPO), as Chairman of Calcutta International School, as Chairman of Young Leaders’ Forum and on the Executive Committee of Indian Chamber of Commerce.

He currently serve as Honorary Consul of Paraguay at Kolkata, and on the Eastern Regional Committee of Indo-Italian Chamber of Commerce and also on the Board of Calcutta Angels – an angel investment organisation.

Widely travelled, I have played cricket at the school & college level and currently play golf. I’m fond of travelling, reading, theatre, music, films & fine dining. I live with my parents, wife & son at Kolkata.

Partners & Alliances

Investments

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FAQs

Q1. Who is an Angel?

An angel is an individual who invests his or her own money in a start-up or early stage companies in exchange for an equity share of the businesses. An angel, apart from capital, provides mentorship, networks and guidance on scaling up the business.

Q2. What is the Calcutta Angels Network?

Calcutta Angels Network has been established with the sole objective of promoting entrepreneurship, mentoring entrepreneurs and enabling start-up / early stage companies to gain access to funds. It provides a platform to companies to present their business proposals and to seek funds and advice from entrepreneurs, professionals and executives. Calcutta Angels as an entity will not make any investments.

Q3. Will there be any fee or charge for startup?

Yes, there is a one time success fee of 2% on the amount of fund raised from Calcutta Angels Network. The fee is applicable only if a startup is able to successfully raises fund from the Network.

Q4. Will there be any financial gain/loss by being part of Calcutta Angels?

All financial gains or losses are subject to a member choosing to make an investment in a company which has been chosen to make a presentation. This is done independently of Calcutta Angels as an entity and is solely at the discretion of its members. Calcutta Angels, its founders or members do not accept any liability toward any financial gain/loss suffered as a result of any investment made by its members.

Q5. What will the money collected as annual membership fees be used for?

The money collected as annual membership fees will be used solely for actual expenses borne by Calcutta Angels for organising meetings and events, sourcing and screening companies to present, and any other day-to-day expenditure related to such activities. Calcutta Angels may also hire staff to help with all of the above.

The members of Calcutta Angels are provided with enhanced deal flow, better quality due diligence and the negotiating power of indirectly pooling capital. The group also serves as a forum for like-minded successful people. Investing in very early stage companies is inherently risky. Calcutta Angels brings together successful and experienced people who by sharing their experience and vision with the other members analyse and determine potential of start-up/ early stage companies for investment.

Further, the network also organises workshops, lectures and adds value to its members' investment theses in various ways.

Q6. How do I become a member of Calcutta Angels?

Membership is by invitation only. One must be referred by a current member who knows the new member and can recommend them. Applicants must be interested in mentorship, investing capital and value team work.

Q7. What is the average stage of the companies that present to Calcutta Angels?

Calcutta Angels is open to investment in all types of companies with strong teams, promising or unique technology or services, large potential markets and high barriers to entry. The members will typically invest in seed stage and early stage companies.

Q8. Where will the members of Calcutta Angels invest?

Calcutta Angels has a preference for deals in Eastern India but is willing to consider deals elsewhere in India or abroad.

Q9. How are deals selected for presentation to the members of Calcutta Angels?

If you meet the criteria of Calcutta Angels, we encourage you to submit a plan for investment consideration. You will need to submit a Business Case Analysis (BCA) in a pre-set format of your business plan. We shall forward your submissions to the Pre Screening Committee for review, who in turn will carry out an evaluation process and respond by the end of the month. If your BCA interests the Committee, we shall arrange a Pre-Screening Meeting of our Committee with you, enabling them to assess and evaluate your business plan against our criteria including quality of management, market opportunities, financial projections and other metrics.

Q10. What should my business plan contain?

You need to submit an executive summary of your business plan. The summary should have all elements of a business plan containing background information about the company, product and technology description and market opportunity. Calcutta Angels also needs to understand your business model and financial projections as well as your capital requirements and the milestones you will reach with this investment. Your executive summary should also include specific information on your customers and competition. Calcutta Angels will strive to provide a template for the same that cuts across sectors.

Q11. Does Calcutta Angels sign NDAs?

Because Calcutta Angels receives many plans its policy is not to sign NDAs (non-disclosure agreements) or confidentiality agreements.

Q12. Are there any fees in order to submit a plan to Calcutta Angels?

There are no fees payable to submit Business Plans to Calcutta Angels.

Q13. How long does it take for a company to receive funding from Calcutta Angels?

After your presentation before the members of Calcutta Angels, you should expect a response within seven days. Thereafter, the members of Calcutta Angels will individually communicate to you or form a Due Diligence Committee in order to further evaluate your company. Calcutta Angels does not guarantee a time period within which a company may receive funding from members.

Q14. How much money do the members of Calcutta Angels typically invest in companies?

A typical investment size is Rs. 25 lakhs to Rs. 2 crores (approximately USD 50,000 to USD 350,000) but the members may invest more or less depending on the funding requirements of the company and the interest of the members. If the investment size is larger, Calcutta Angels may syndicate the investment with other investor groups. The members may invest individually or in groups. Thereon, a deal champion will be chosen from amongst the group for representing them.

Q15. Does Calcutta Angels always take a board seat position with each investment?

Calcutta Angels typically takes a Board seat on the companies that its members invest in. In cases they may form Committees, take observer status as and when required on a case to case basis.